Bitcoin ETFs Absorb $626M in August as Sentiment Remains in Extreme Fear
US-listed spot Bitcoin ETFs pulled in $626 million over the first three trading days of August, following a punishing stretch where they bled more than $8 billion across May and June. The rebound started on August 3 with $170.1 million in net inflows, as seven out of 12 listed products drew cash without any withdrawals. BlackRock's iShares Bitcoin Trust supplied about $479 million of the total, taking its cumulative net inflows to nearly $61 billion since January 2024.
The three-day tally was already more than the funds gathered across the whole of July, with Ether funds adding $114.6 million over two days and XRP products shedding $3.58 million after a four-session run without redemptions. Bitcoin traded near $64,700 on Wednesday, up less than 1% over the previous 24 hours, while the wider crypto market was valued at about $2.29 trillion.
The Crypto Fear and Greed Index slipped to 25, a reading inside its 'Extreme Fear' band, indicating that sentiment did not follow the price action.